Cybercriminals take huge advantage of technology especially the internet to commit crimes. Internet is a great tool for scammers and criminals as it helps them to ply their trade while being anonymous as they hide behind the network. Cybercrime has a hefty impact on society in various ways including the online and offline world. There are a lot of effects of cybercrime.
Being the victim of cybercrime can have a long-lasting effect on your life. The most common technique that criminals employ is phishing. Phishing is sending false emails by showcasing that it has come from a bank or other financial organization that tends to receive personal information. If the user hand over this information then the criminal can access your bank account and destroy your credit rating. Furthermore, the damage that occurs may take months or years to rectify. So, one must learn to protect personal information and be cautious regarding such scams.
2. Security Costs
The main focus of cybercriminals is to attack businesses, both large and small. Moreover, hackers try to attack the server of the companies to steal information for their own benefit. Therefore, to protect themselves, large organizations spend a huge expenditure on cybersecurity.
3. Monetary losses
Cybercrime causes an immense overall monetary loss. In fact, millions of people fall under the category of the victim by cybercrime every day. This crime ranges from stealing simple passwords to extensive monetary swindles. As users are becoming aware of the traditional avenue attack, cybercriminals have developed new techniques which involve mobile devices and social network to keep their gain continuous.
Entertainment, music, and software industries are hugely affected by the cybercrime of piracy. It is hard to estimate the claims of damages and even harder is to verify them as it ranges from hundreds of millions to hundreds of billions of dollars per year. In response to this, copyright holders have asked for stricter laws. With the help of these laws, the copyright holder can target file sharers and make them pay a large sum of money for the financial damage that they have caused to the user.
5. Cyber fear in teenagers
The worst fear among teenagers now is cyberbullying. This is one of the effects of cybercrime. Moreover, it has become common and youth is susceptible to this. It is gaining popularization and becoming an alarming trend in our society. The worst fear of cybercrime is among female teenagers. Cyberbullying is a fear of receiving threats, negative comments, or pictures from others.